Chemicals: Global Trade Management Challenges & Solutions

The chemical industry transforms raw materials, such as oil, natural gas, metals, minerals and more, into tens of thousands of products for industrial and consumer uses. Many U.S. companies operate internationally with facilities outside U.S. borders; some possess foreign subsidiaries or affiliates. Chemical industry shipments are valued at about $555 billion per year.

To stay competitive, U.S. firms must source production internationally to take advantage of free trade agreements and lower material and labor costs. Yet, they must move products quickly and inexpensively. Global trade management software technology is essential to manage processes – logistics, regulatory, financial – and enhance collaboration among supply chain partners, so goods can reach their destination in a timely, secure and cost-effective manner.